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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: profile_14	5/11/2007 8:58:43 PM
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Crack Spreads from a fundamental and TA viewpoint. I sold VLO at 63.75, about 10 points ago some 5 or so weeks ago. Early but not sorry, because I was pounding the table at the lows when no one wanted it. But what we have here is manic speculation again at its best. The sustainability of these spreads is akin to $15.50 natural gas prices a year ago January/February. Nine months later it was $4.10. Sell now and buy back in late August or September, much like last year... I have sold and have now purchased long puts just out of the money. My downside is limited to the cost of the puts and the upside IMO is very rewarding. If folks don't think imports are on their way, and that last week's data was bearish, and that there is a new paradigm in refining, then good luck. This is expensive gasoline that IS crimping the masses' lifestyle faster than the pundits can measure IMO. stockcharts.com stockcharts.com ADX green line falling, CMF faltering, volume falling, and MACD crossed. Signs that a likely top might be in considering that record spreads cannot drive it any higher, with or without a $6 billion buyback and a refinery sale.

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